Physician Wealth Advisors Inc. Decreases Stake in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jul 7th, 2023

Physician Wealth Advisors Inc. decreased its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,654 shares of the computer hardware maker’s stock after selling 200 shares during the period. Physician Wealth Advisors Inc.’s holdings in NVIDIA were worth $741,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC boosted its holdings in NVIDIA by 124.1% in the 4th quarter. GoalVest Advisory LLC now owns 195 shares of the computer hardware maker’s stock worth $28,000 after buying an additional 108 shares during the period. Contravisory Investment Management Inc. bought a new position in NVIDIA in the 1st quarter worth approximately $28,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in NVIDIA in the 4th quarter worth approximately $34,000. Financial Connections Group Inc. boosted its holdings in NVIDIA by 605.7% in the 4th quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock worth $36,000 after buying an additional 212 shares during the period. Finally, NewSquare Capital LLC bought a new position in NVIDIA in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 64.00% of the company’s stock.

NVIDIA Trading Down 0.5 %

NASDAQ:NVDA opened at $421.03 on Friday. NVIDIA Co. has a one year low of $108.13 and a one year high of $439.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.43 and a quick ratio of 2.79. The company’s 50-day simple moving average is $364.25 and its 200 day simple moving average is $269.65. The firm has a market capitalization of $1.04 trillion, a P/E ratio of 219.29, a PEG ratio of 2.91 and a beta of 1.74.

NVIDIA (NASDAQ:NVDA – Free Report) last posted its quarterly earnings data on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, topping the consensus estimate of $0.92 by $0.17. The business had revenue of $7.19 billion for the quarter, compared to analyst estimates of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 23.63%. NVIDIA’s quarterly revenue was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 earnings per share. As a group, analysts forecast that NVIDIA Co. will post 6.31 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 8th were issued a $0.04 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $0.16 annualized dividend and a yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is presently 8.33%.

Insiders Place Their Bets

In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of NVIDIA stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $305.00, for a total value of $7,040,620.00. Following the completion of the transaction, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at $42,657,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other NVIDIA news, EVP Debora Shoquist sold 23,084 shares of NVIDIA stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $305.00, for a total value of $7,040,620.00. Following the completion of the transaction, the executive vice president now directly owns 139,860 shares of the company’s stock, valued at $42,657,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tench Coxe sold 100,000 shares of NVIDIA stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $379.00, for a total transaction of $37,900,000.00. Following the completion of the transaction, the director now directly owns 3,397,136 shares of the company’s stock, valued at $1,287,514,544. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 368,271 shares of company stock valued at $147,115,953. Insiders own 3.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Mizuho raised their price target on shares of NVIDIA from $290.00 to $400.00 in a report on Thursday, May 25th. Wells Fargo & Company raised their price target on shares of NVIDIA from $320.00 to $450.00 in a report on Thursday, May 25th. Citigroup raised their price target on shares of NVIDIA from $363.00 to $420.00 in a report on Thursday, May 25th. Susquehanna raised their price target on shares of NVIDIA from $350.00 to $450.00 in a report on Thursday, May 25th. Finally, TD Cowen raised their price target on shares of NVIDIA from $260.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, March 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $392.70.

NVIDIA Company Profile

(Free Report)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.